WORLEY LIMITED (WOR)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

WOR

WOR - WORLEY LIMITED

FNArena Sector : Energy Sector Contracting
Year End: June
GICS Industry Group : Energy
Debt/EBITDA: 2.39
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Worley is a global engineering company providing project and asset services to the energy, chemicals and resource sectors. The company has been listed since 2002. Has started to diversify via renewable energy projects.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$12.36

02 May
2025

0.140

OPEN

$12.11

1.15%

HIGH

$12.36

1,677,431

LOW

$12.07

TARGET
$18.05 46.0% upside
OTHER COMPANIES IN THE SAME SECTOR
EOL . MND . MSV . PRN .
FNARENA'S MARKET CONSENSUS FORECASTS
WOR: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 57.5 83.2 xxx
DPS (cps) xxx 50.0 50.0 xxx
EPS Growth xxx 100.0% 44.8% xxx
DPS Growth xxx 0.0% 0.0% xxx
PE Ratio xxx N/A 14.5 xxx
Dividend Yield xxx N/A 4.2% xxx
Div Pay Ratio(%) xxx 87.0% 60.1% xxx

Dividend yield today if purchased 3 years ago: 3.45%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.15

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 02/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx57.5
DPS All xxxxxxxxxxxxxxx50.0
Sales/Revenue xxxxxxxxxxxxxxx11,789.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,043.6
Net Operating Cash Flow xxxxxxxxxxxxxxx682.0 M
Net Profit Margin xxxxxxxxxxxxxxx2.57 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx5.45 %
Return on Invested Capital xxxxxxxxxxxxxxx3.98 %
Return on Assets xxxxxxxxxxxxxxx2.89 %
Return on Equity xxxxxxxxxxxxxxx5.45 %
Return on Total Capital xxxxxxxxxxxxxxx7.73 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx324.0 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx132 M
Long Term Debt xxxxxxxxxxxxxxx1,941 M
Total Debt xxxxxxxxxxxxxxx2,073 M
Goodwill - Gross xxxxxxxxxxxxxxx5,543 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx554 M
Price To Book Value xxxxxxxxxxxxxxx1.44

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx95.0 M
Capex % of Sales xxxxxxxxxxxxxxx0.81 %
Cost of Goods Sold xxxxxxxxxxxxxxx10,887 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx306 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx225 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Citi

27/02/2025

1

Buy

$18.00

45.63%

Worley is performing in line with expectations, with Citi upgrading EPS forecasts mainly due to a $500m buyback and improved capital investment return assumptions.

The broker points to a strengthening market position as competitors face financial difficulties, improving pricing power and margins.

Citi raises FY26 EBITA margin forecasts to 8.8% from 8.5%, with core EPS estimates up 2% for FY25 and 12% for FY26.

The broker believes the company remains attractively valued despite over a 10% rally, trading at 16.3x forward PE, below its historical 17.3x average.

Citi maintains a Buy rating with a target price of $18.00.

***

At first glance by Citi, Worley's 1H25 results showed a weaker-than-expected $12.7bn backlog, though excluding NorthVolt, backlog grew by $0.5bn.

The broker notes revenue was in line but skewed toward lower-margin procurement, while EBITDA margins of 8.4% beat the 7.8% forecast, driving earnings in line with consensus.

Margins are nearing the 9% target for this cycle, shifting the earnings focus to top-line momentum. Management reaffirmed double-digit earnings growth guidance and signalled confidence with a $500m share buyback for FY25.

Citi notes offshore peers have underperformed, contributing to the stock's weakness, but sees the $14 share price as positive given the result. DPS of 25c was in line.

FORECAST
Citi forecasts a full year FY25 dividend of 50.00 cents and EPS of 76.30 cents.
Citi forecasts a full year FY26 dividend of 58.50 cents and EPS of 102.20 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Goldman Sachs

05/03/2025

1

Buy

$18.00

45.63%

Worley reported earnings (EBITA) which met Goldman Sachs’ estimates, with margins improving to 8.4% for 1H25.

Cash conversion remained strong at 97.5%. The analyst highlights political uncertainty and customer caution affected sustainability-related projects, but traditional and transitional work drove a 42% and 83% increase, respectively, in the factored sales pipeline.

The broker highlights the company's backlog declined to $12.7bn from $13.8bn due to -$2bn in cancellations, including Northvolt’s battery materials project.

Despite this, wins and scope increases exceeded backlog deliveries, with a book-to-bill ratio of 1.14x.

A $500m share buyback, representing 7% of market capitalisation, was announced. Management guidance was unchanged.

No change to the Buy rating or $18 target price.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 55.00 cents and EPS of 80.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 66.00 cents and EPS of 99.00 cents.
Access Extra Coverage Research History >

WOR STOCK CHART

FNArena News on WOR

1
Rudi’s View: Mag7 Dominance & Profit Warnings

May 01 2025 - Rudi's View
2
Rudi’s View: Best Buys In Copper, Small Caps, Tech, Healthcare, And More

Mar 20 2025 - Rudi's View
3
Rudi’s View: To Sell Or Not To Sell

Mar 06 2025 - Rudi's View
4
Australian Broker Call *Extra* Edition – Mar 05, 2025

Mar 05 2025 - Daily Market Reports
5
FNArena Corporate Results Monitor – 27-02-2025

Feb 27 2025 - Australia

Latest Energy Sector Contracting News

1
Treasure Chest: The Green Opportunity In Worley

May 06 2024 - Treasure Chest
2
ESG Focus: ASX300 Rush To Decarbonise

Oct 21 2022 - ESG Focus
3
Treasure Chest: Worley’s Opportunity Is… Green?

Oct 20 2021 - Treasure Chest
4
Worley Well Placed For A Sustainability World

Jun 03 2021 - Australia
5
Recovery Still On Offer For Worley

Feb 02 2021 - Australia
6
Sustainability Opportunity Beckons Worley

Dec 04 2020 - Australia
7
WorleyParsons Gains Enhanced Global Scale

Jun 06 2019 - Australia
8
Oil Lift Boosts Outlook For WorleyParsons

May 10 2018 - Australia
9
Worley In Deep Water?

Oct 10 2017 - Australia
10
The Short Report

Sep 29 2016 - Australia